clawback percentages for citywest plaza?

M

MAGPIEKB

Registered User
Messages
17
Went to veiw the other day but property path (south dublin county council) says they wont tell me what the clawback percentage is until after i put down a deposit & have a meeting with them. Seemed a bit strange, Im not sure if i understand. Does anyone know what the percentages roughly are on these units?
 
Hi

I put down the deposit and went for the talk with property path and the clawback is 29%. A friend of mine just got an apartment in Rathcoole from property path and the clawback is 26% but his apartment was 215. another friend who bought her apartment a year and a half agos clawback is 50%
 
Hi

just got a pack from my solicitor and it says the management fee is 2250 for the apartment and not the 1800 as had been stated before GRRRR am really annoyed
 
Thanks Actionmags, for your candid response.
That sounds like about 185 per month on just maintenance? Wonder what theire they planning on doing for you with that? Small development though, tennants could take over the maintenance themselves. I thought the apartments & little complex were lovely, work on the northside though, bit scared that luas wont ever materialise.
 
Hi MAGPIEKB
I was told by Propertypath that the clawback was 41% . Since then I changed the apt I am buying to a bigger one so I am meeting them tomorrow to go through the clawback. I am a bit worried though as the bank have told me they won't approve the mortage unless the market value is minium €300,000. Has anyone else heard of this?
 
Hi

i think the bank send in their own valuation to see what the market value is. I was told that the clawback was 29 percent

i think if the market value is less you can get less clawback

the woman in property path did say that if you bought the apartment for say 200,000 and went to sell it and it was only going for 200,000 the money from the sale would all go towards the banks repayment and clawback would not really come into effect (the idea of clawback is people not making a profit)
 
Hi

Ive put my deposit down on Citywest Plaza i have all my paper work nearly done but theres some issues creeping up. Firstly i got an independent valuer to value the apartment and then i went into property path to go through the clawback. I found out that SDCC have valued my apartment way over what i my valuer had said! Then i was told i dont have a designated car space, which is crazy!!! and the clawback percentage was in the region of 42%. They only tell you when you go into them which is very unfair as they know you probably wont argue. I was on to my solicitor and my managment fees are €1800 - i know thats not too bad as ppl are paying €2000+ but theres not really much maintaining to do in the building, i dont have a designated car space and no gardens!!!!
Has anyone else found out any info on these apartments and why they wouldnt go for them??? i just dont want to make the wrong decision and be stuck in something i cant sell eventually!
 
Hi Shannon01 Do you mind me asking what the independent valuer valued your apartment at? I know soemone very well who is a valuer and he reckons they are worth between €236,000 and €250,000. I have been looking around and most apts in the area are selling for around €249,000. Plus Savills are selling them privately (with appliances included!) from €255,000
 
Hi there

They thought it was only worth in the region of 250k where SDCC say 285K!!!!! there are furnished apartments selling for less than 285 so where do they get off adding 35K more!
 
Saville are selling them for 255K i didnt no appliances were included in that!! im really considering backing out at this stage.
 
who knows what the budget might hold for us first time buyers! their has to be something in it with the way the market is going. im gonna wait for a reply off SDCC about the value and if im not happy im backing out!
 
I have been so busy concentrating on the management fees and being rushed into signing that i have not thought about the clawback,

i have asked my mortgate broker what the bank valued the apartment as and if it is different i will talk to property path about it

i did see something in the paper a while ago saying that property path would revalue something due to the change in the market (but when i asked about this they didnt seem to sure)
 
in fairness appliances are not going to cost thousands upon thousands, the issues driving me crazy with citywest are the fact that everybody seems so unprofessional about the whole thing, not getting back to you with queries not answering your queries and i feel that they are trying to squeese a few extra bob off you (i would not be that mad about management fees if you did not have to pay them every year!! and would i be able to seel on with such high management fees) I know you will get them everywhere you go

also being rushed into signing when they wont answer your questions... and i thought it would be the solicitors job to question management fees
 
i never heard anything about the no designated parking space

it all seems so badly organised, i mean how can the management fees be so much when there is no garden???

i have asked the broker to send me the valuation that the bank did and i will get back onto property path
 
Hi shannon01

are you with the solicitors in rathcoole? have you gotten onto them regarding the managment fees (that will be madness) and the valuation???

i really like the layout of the apartment i have chosen but i am constantly annoyed by the "help" that i am getting/notgetting
 
Hi Actionmags

Yes i am with the solicitors in Rathcoole and they have told me they were onto the developers about the fee and they are not going to budge on them. I cant see where the money is going apart from lift maintenance up keep of intercom etc..The solicitor said management fees vary depending on the size of your property - i cant see the logic in that! i also like the layout of my apartment and the size. I cant believe we dont have a designated car space! Have you gotten a value market figure off SDCC to say what they think your apartment is worth?
 
actionmags

i also seen that article in the paper and it said something like... 'ppl can dispute the price of the apartments AFTER you sign'.... to be honest i wouldnt sign until i was happy with the price. I wont sign under pressure and i think anyone who does is mad.
 
Hi Shannon It should say in the letter you got from propertypath if there is a parking space included. As far as I am aware there is a parking space with every apartment
 
You must log in or register to reply here.
Back
Top